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Describe the importance of customer segmentation.

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Customer segmentation is a process of dividing customers into meaningful and distinct groups based on certain characteristics, such as industry, demographic, geographic, interests, etc. It is important for businesses to have information on their customers to understand their needs, tailor their offerings, and effectively target their marketing activities. Additionally, segmentation can help businesses to assess their return on investment. By segmenting their audiences, businesses gain better insights into their customers and are better able to craft strategies to better engage them.